Oman's oil output falls 6.7 percent in 1H02

Oman exported 154 million barrels of oil in the first half of 2002, a 6.7 percent decrease compared to 165 million barrels of oil exports shipped from the Sultanate during the same period last year. T

Oman exported 154 million barrels of oil in the first half of 2002, a 6.7 percent decrease compared to 165 million barrels of oil exports shipped from the Sultanate during the same period last year. The price per barrel of Omani oil dropped by 7.6 percent to $22.71, reported the National Ministry of Economy.

The non-OPEC oil producer has a modest 5.74 billion barrels of oil reserves of and 22 trillion cubic feet of natural gas reserves. Oman’s daily output of crude currently reaches 900,000 tons. Its reserves are projected to last 20 years at current rates of production. — (menareport.com)